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A market follower company - Essay Example

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Summary
A market follower is a company which does not have any strategy of its own. It neither goes for cost-leadership, nor does it go for differentiation but it only follows other companies in order to retain their chunk of the market share. A market follower has no strategy of its own as they consider that they can retain their chunk of the market share by following the lead of other more innovative companies…
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A market follower company

Download file to see previous pages... They with the passage time become market strugglers. It is therefore imperative for all the firms in the competitive market environment to make sure they design an appropriate strategy which is in a perfect fit the external and internal environments of a company so that no conflicts occur in the firm's business operations and smooth business operations are conducted.
The marketing strategy that we can adopt is by increasing the frequency by which people use our product. This can be done by either making it convenient for the consumers to use the product or by encouraging people to use it more often. This can be done by making a more tempting ad campaign in which people are asked to use the product more often. Another important thing that can be done to encourage people to use it more often is by telling the consumer that it what they need. Similarly, more persuasive ad making can be done for tempting the consumers. Another marketing strategy could be offering promotional discount that is if the product is bough frequently a certain percentage of discounts can be given. This will encourage people and target consumers to buy the product more often, the one aspect in which our country is lagging behind. ...Download file to see next pagesRead More
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